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Side-by-side financial comparison of Confluent, Inc. (CFLT) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
Confluent, Inc. is the larger business by last-quarter revenue ($314.8M vs $188.3M, roughly 1.7× BRC Group Holdings, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs -25.2%, a 73.1% gap on every dollar of revenue. On growth, Confluent, Inc. posted the faster year-over-year revenue change (20.5% vs -21.9%). Over the past eight quarters, Confluent, Inc.'s revenue compounded faster (20.4% CAGR vs -15.4%).
Confluent, Inc. is an American technology company headquartered in Mountain View, California. Confluent was founded by Jay Kreps, Jun Rao and Neha Narkhede on September 23, 2014, in order to commercialize an open-source streaming platform Apache Kafka, created by the same founders while working at LinkedIn in 2008 as a B2B infrastructure company. Confluent's products are the Confluent Cloud, Confluent Platform, Connectors, Apache Flink, Stream Governance and Confluent Hub.
CFLT vs RILY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $314.8M | $188.3M |
| Net Profit | $-79.2M | $90.3M |
| Gross Margin | 74.7% | 79.5% |
| Operating Margin | -31.5% | 32.3% |
| Net Margin | -25.2% | 47.9% |
| Revenue YoY | 20.5% | -21.9% |
| Net Profit YoY | 10.0% | 1710.8% |
| EPS (diluted) | $-0.23 | $2.78 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $314.8M | $188.3M | ||
| Q3 25 | $298.5M | $215.3M | ||
| Q2 25 | $282.3M | $188.2M | ||
| Q1 25 | $271.1M | $197.2M | ||
| Q4 24 | $261.2M | $241.0M | ||
| Q3 24 | $250.2M | $225.5M | ||
| Q2 24 | $235.0M | $256.0M | ||
| Q1 24 | $217.2M | $263.4M |
| Q4 25 | $-79.2M | $90.3M | ||
| Q3 25 | $-66.5M | $91.1M | ||
| Q2 25 | $-82.0M | $139.5M | ||
| Q1 25 | $-67.6M | $-10.0M | ||
| Q4 24 | $-88.1M | $-5.6M | ||
| Q3 24 | $-74.1M | $-284.4M | ||
| Q2 24 | $-89.9M | $-433.6M | ||
| Q1 24 | $-93.0M | $-49.2M |
| Q4 25 | 74.7% | 79.5% | ||
| Q3 25 | 74.2% | 83.7% | ||
| Q2 25 | 73.7% | 81.3% | ||
| Q1 25 | 74.5% | 81.4% | ||
| Q4 24 | 74.1% | 79.8% | ||
| Q3 24 | 74.5% | 82.1% | ||
| Q2 24 | 72.3% | 84.5% | ||
| Q1 24 | 71.8% | 85.3% |
| Q4 25 | -31.5% | 32.3% | ||
| Q3 25 | -27.9% | 30.4% | ||
| Q2 25 | -34.2% | 5.7% | ||
| Q1 25 | -37.3% | -31.2% | ||
| Q4 24 | -40.5% | -69.2% | ||
| Q3 24 | -37.4% | -36.4% | ||
| Q2 24 | -46.1% | -90.8% | ||
| Q1 24 | -51.3% | -6.1% |
| Q4 25 | -25.2% | 47.9% | ||
| Q3 25 | -22.3% | 42.3% | ||
| Q2 25 | -29.0% | 74.1% | ||
| Q1 25 | -24.9% | -5.1% | ||
| Q4 24 | -33.7% | -2.3% | ||
| Q3 24 | -29.6% | -126.1% | ||
| Q2 24 | -38.3% | -169.4% | ||
| Q1 24 | -42.8% | -18.7% |
| Q4 25 | $-0.23 | $2.78 | ||
| Q3 25 | $-0.19 | $2.91 | ||
| Q2 25 | $-0.24 | $4.50 | ||
| Q1 25 | $-0.20 | $-0.39 | ||
| Q4 24 | $-0.26 | $-0.01 | ||
| Q3 24 | $-0.23 | $-9.39 | ||
| Q2 24 | $-0.28 | $-14.35 | ||
| Q1 24 | $-0.30 | $-1.71 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $347.2M | $226.6M |
| Total DebtLower is stronger | $1.1B | $1.4B |
| Stockholders' EquityBook value | $1.2B | $-171.5M |
| Total Assets | $3.0B | $1.7B |
| Debt / EquityLower = less leverage | 0.94× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $347.2M | $226.6M | ||
| Q3 25 | $298.5M | $184.2M | ||
| Q2 25 | $295.6M | $267.4M | ||
| Q1 25 | $278.6M | $138.3M | ||
| Q4 24 | $386.0M | $146.9M | ||
| Q3 24 | $322.6M | $159.2M | ||
| Q2 24 | $311.3M | $236.9M | ||
| Q1 24 | $336.4M | $190.7M |
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $1.2B | $-171.5M | ||
| Q3 25 | $1.1B | $-260.5M | ||
| Q2 25 | $1.1B | $-351.7M | ||
| Q1 25 | $1.0B | $-496.8M | ||
| Q4 24 | $961.2M | $-488.2M | ||
| Q3 24 | $934.3M | $-497.6M | ||
| Q2 24 | $873.9M | $-218.3M | ||
| Q1 24 | $845.2M | $228.4M |
| Q4 25 | $3.0B | $1.7B | ||
| Q3 25 | $2.9B | $1.7B | ||
| Q2 25 | $2.8B | $1.5B | ||
| Q1 25 | $2.7B | $1.5B | ||
| Q4 24 | $2.7B | $1.8B | ||
| Q3 24 | $2.6B | $2.2B | ||
| Q2 24 | $2.5B | $3.2B | ||
| Q1 24 | $2.4B | $5.0B |
| Q4 25 | 0.94× | — | ||
| Q3 25 | 0.98× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 1.14× | — | ||
| Q3 24 | 1.17× | — | ||
| Q2 24 | 1.25× | — | ||
| Q1 24 | 1.29× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $42.1M | $26.2M |
| Free Cash FlowOCF − Capex | $41.7M | — |
| FCF MarginFCF / Revenue | 13.2% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | — | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $60.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.1M | $26.2M | ||
| Q3 25 | $30.8M | $-60.6M | ||
| Q2 25 | $18.1M | $-25.6M | ||
| Q1 25 | $-26.8M | $184.0K | ||
| Q4 24 | $35.2M | $-2.7M | ||
| Q3 24 | $15.6M | $19.5M | ||
| Q2 24 | $8.6M | $111.5M | ||
| Q1 24 | $-26.0M | $135.4M |
| Q4 25 | $41.7M | — | ||
| Q3 25 | $30.0M | — | ||
| Q2 25 | $17.2M | — | ||
| Q1 25 | $-28.2M | — | ||
| Q4 24 | $34.5M | — | ||
| Q3 24 | $15.0M | — | ||
| Q2 24 | $7.5M | — | ||
| Q1 24 | $-26.1M | — |
| Q4 25 | 13.2% | — | ||
| Q3 25 | 10.0% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | -10.4% | — | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | -12.0% | — |
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | -0.66× | ||
| Q2 25 | — | -0.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CFLT
| Confluent Cloud | $169.4M | 54% |
| Post Contract Customer Support | $93.8M | 30% |
| License | $38.4M | 12% |
| Services | $13.2M | 4% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
